In the drilling of wells offshore it is desirable, and in many locations required, that the surface casing and all equipment on the ocean floor be removed to avoid the hazard of equipment projecting above the ocean floor. Prior to the present invention it has been the practice to lower a cutter on a string to cut through the surface casing at a point substantially below the ocean floor, the string is recovered, the cutter replaced with a spear, the string is lowered, the wellhead is located to insert the spear into the surface casing, the spear is set and the casing and other equipment on the ocean floor raised on the string.